ICICI Securities raises Piramal Pharma target to Rs 290 after strong quarter
ICICI Securities kept its BUY rating on Piramal Pharma and raised the target price to Rs 290 after a stronger-than-expected second quarter, per TradingView.
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what happened
Piramal Pharma's second-quarter FY27 results beat expectations, according to a research note from ICICI Securities reported by TradingView. EBITDA came in 39% above the brokerage's estimate, while CDMO revenue rose 36.4% year on year. Commercial supplies of innovative products grew 39% and antibody-drug conjugates rose 51% in the first half, while the CHG segment climbed 31.8% after the Kenalog acquisition and stronger sevoflurane sales in markets outside the US.
Management now expects FY27 revenue growth of 19-20% and says the second half should be stronger. ICICI Securities raised its target price to Rs 290 from Rs 245 and kept its BUY rating.
why it matters
The revision shows how a company's guidance and quarterly results can shift analyst valuations. Investors in Indian contract drug manufacturers will watch whether the expected second-half improvement comes through.
tags
instruments
sources
- Buy Piramal Pharma; target of Rs 290: ICICI Securities — TradingView, 29 October 2026 at 09:09 UTC
- Buy JSW Energy; target of Rs 675: ICICI Securities — TradingView, 29 October 2026 at 09:09 UTC
- Buy Info Edge; target of Rs 1500: ICICI Securities — TradingView, 29 October 2026 at 09:09 UTC
- Buy Gravita India; target of Rs 1891: ICICI Securities — TradingView, 29 October 2026 at 09:09 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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